US corn stocks to fall, prices to rise

Soybean, wheat futures have dropped in last year

U.S. corn stockpiles in the 2011-2012 marketing year will fall to 20.3 million metric tons, the lowest level in 16 years, and prices will rise 9 percent in six months, according to Goldman Sachs.

Corn futures have already declined 11 percent in the last year, and may drop to $5.25 per bushel at the end of 2012. “Corn prices will remain high relative to other crops in coming months in order to secure sufficient acreage gains in the U.S. to help rebuild U.S. inventories,” said New York-based analyst Damien Courvalin.